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Wemade wins the final heart of China's 'Namwol Electric' debt failure

Remade was victorious in the final heart of the liability solidarity on the failure to carry out the debt of the web game AWOL Electric that Remade raised against China's King net and Zhejiang Confectionery.

Zhejiang Hung is a subsidiary of King net, and has been ruining royalty even though it is producing and servicing 'Mir Legendary 2' IP-based web game 'AWOL Electric' since February 2017.

As a result, Remade filed an arbitration in February 2017 to the Singapore International Chamber of Commerce and Industry to pay interest, including minimum guarantee and royalty under the 'Mir's Legend' mobile game and web game license agreement. In May 2019, the International Court of Arbitration (ICC) under the International Chamber of Commerce and Industry (ICC) decided to pay compensation, including interest expenses due to non-compliance with the contract.


Under the ICC ruling, Remade was recognized for applying for approval and execution of international arbitration in September 2019. Despite the decision of the Tribunal, in June 2020, in June 2020, the Shanghai Province 1 Intermediate People's Court filed a legal lawsuit against King net and Zhejiang Human Court.

On the 23rd, the court of Shanghai High People's Court, a court, cited all of Remade's lawsuit against the lawsuit against the lawsuit, and ruled the final victory. The Tribunal ordered that King net and Zhejiang Confectionery were actually responsible for illegal acts as a corporation, and granted solidarity obligations for the debt that was not repaid by the King net.

Remade completed the seizure of King net's cash assets and intangible assets during the lawsuit. Based on this, the ruling will be effectively enforced through procedures such as forced execution.


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